White Mountain Titanium Corp. (OTCPK:WMTM) announced that it has signed an agreement to conduct a private placement of units at a price of $0.35 per unit on December 3, 2013. Each unit consists of one common share and one share purchase warrant. Each such warrant entitles the holder to purchase an additional share of the company at an exercise price of $0.45 per share till December 31, 2016.

On December 13, 2013, White Mountain Titanium Corp. closed the transaction. The company announced that it has issued 199,714 shares at $0.35 per share for $69,900 in first tranche of the transaction to two investors pursuant to Regulation D. No selling commissions were paid in connection with the sale of the first tranche units, which were sold pursuant to Regulation D.